The world has been watching the U.S and China debacle and whilst America wants to sound like it has some sort of upper hand, this trade war might be hurting a lot of Americans instead of improving their lives. China which has been the world’s biggest producer and the world’s biggest consumer of gold all at once has been making other moves. It seems that China knows something that the rest of the world doesn’t know yet.
For months now, China has been buying a lot of gold. The People’s Bank of China has increased its large gold reserves by 11.2 tons in March 2019. This adds to the 9.95 tons it bought in February, the 11.8 tons it bought in January and the 9.95 tons of gold it bought in December. China isn’t the only country that has been on a massive gold spree. Another country that is no friend of the United States of America, Russia. Russia added 274 tons of gold to its reserves in 2018.
We might be moving to an era when gold trumps the dollar and if you have been a savvy investor with a diverse portfolio that included gold these should be exciting and profitable times. This is also a golden era for Brisbane gold brokers because of the volume of gold coming into their businesses and the amount that they are selling to private individuals and refineries alike.
However, the sudden rise of businesses that buy gold has also made way for unscrupulous people. There are infomercials everywhere and the internet is full of websites of people promising good prices for your unwanted gold. What these fly-by-night businesses count on your lack of knowledge and on your need for quick cash. When selling gold you should exercise caution. There are good and reputable businesses out there and plenty of information on the process of selling gold. You do need to do some research before you hand in your valuable to a perfect stranger.
First know what you have and get a sense of its value. You can check the markings on your gold item to see its purity. Is it 14 K or 24k. Most jewellery will be 14k – 18k. 24k is considered to be 99.9% pure gold and that is what the spot price is based on. However, 24K gold is commonly used to make gold coins or god bars. It is too soft to be used in jewellery so it is often alloyed with other metals.
Take your gold item to Brisbane gold brokers near you. Don’t take the first offer you receive rather get a coupe of them. The internet is a great source of information. You can find god buyers around you as well as online buyers to get your gold from. You can also get into consumer sites to find reviews or complaints about gold buyers.
Look for experience. A gold buyer who operates from a salon or from home probably won’t have enough experience to provide an accurate evaluation of your gold items.
Information is power. You should not approach a gold broker blind. There are reputable gold buyers you can do business with. You only need to have enough information and take extra precautions to find a gold dealer worth doing business with
